Lo2 illustrate the potential impact of the law on a business lo3 suggest appropriate legal solutions to business problems

1 Contents Introduction 2 LO1 Explain the basic nature of the legal system 3 Explain different sources of law of England 3 Define the history and characteristics of Common law; Explain the difference[.]

Contents

Introduction 2

LO1 Explain the basic nature of the legal system 3

Explain different sources of law of England 3

Define the history and characteristics of Common law; Explain the difference between Common law and equity 4

Explain the role of government in law making and how statutory and common law is applied in the justice courts 5

LO2 Illustrate the potential impact of the law on a business 6

The supervisor requests that your report has to include the different types of business entities in England Compare the advantages and disadvantages of each of them 6

LO3 Suggest appropriate legal solutions to business problems 9

What is the transfer of property in the goods? 9

Explain the manufacturer’s liability in contract 10

LO4 Recommend appropriate legal solutions based upon alternative legal advice provided 10

The different type of methods of dispute settlement 10

The affect on the business 11

Recommend a certain article on governing laws and dispute settlement 11

Conclusion 14

References 15

As a consultant at HSBC Vietnam This article will advise customers fully about the UK legal system At the same time, it will solve some of the problems raised by the customer And it also has some suggestions to solve the problem that the customer is having

LO1 Explain the basic nature of the legal system.

Explain different sources of law of England

The supreme law-making body of England is Parliament Legislation created by Parliament began as a Bill The Royal Family reviews and approves the Bill, which will become law Before that, bills will go through a number of review stages and go to the House of Lords, where the final changes will be made

Agencies or persons authorized by Parliament to enact legislation shall issue Legislation Legislation promulgated must be sourced and consistent with the legislation enacted or authorized by the Act At the same time, legislation also helped to strengthen and codify English law Legislation unifies and issues different statutes under a single statute This helps to unify the provisions of the law on a specific topic including custom, common law and statute

The absolutism of new laws is also influenced by legislation passed in Acts of Congress

or in previously enacted laws

Along with legislation, common law or case law is also an important part of law-making Courts can rely on statutes to make laws Therefore, the regulations must be general - covering many different cases Therefore, the rules must be made clear in court cases because of their generality Furthermore, the court is responsible for correcting and clarifying unclear language or errors in the drafting of the bylaws

The responsibility for interpreting the statutes of the courts is bound through the system

of judicial precedent Future cases are bound to follow the decided cases, which helps to provide consistency and accuracy in decisions The courts can therefore cite decided cases to make a point rather than argue, giving law development a certain amount of flexibility Decisions are binding on all lower courts by the courts of appeal The same goes for the appellate courts - bound by their own prior decisions

Legislation was also created from human rights law EU law is also recognized as part of British law, passed by the European Community Act 1972 However, higher courts can declare the statute incompatible with the HRA

The Court of Justice of the European Union is also another source of law Parliament is bound to adopt the decisions of the Court of Justice of the European Union

Conclusion, although the law making is based on case law, EU law and human rights law However, legislation remains Britain's most important source of law At the same time, written laws created and passed by Parliament can replace case law, but not vice versa In

the same way, case precedent from human rights law and EU law must be legislated by Parliament to consider those rulings and become part of UK law

Define the history and characteristics of Common law; Explain the difference between Common law and equity

a) Definition of Common law?

Common law is a system of unwritten law based on precedents decided by courts Extraordinary cases that cannot be adjudicated based on existing statutes or written laws will be adjudicated based on common law Common law provides

consistency in cases that have already happened with those that will happen

b) The history of Common law

Common law was originated in England and is currently being used by many countries around the world such as: Hong Kong, Canada, India, According to research, the origin of common law comes from judicial review the courts of the English kings after 1066- after the Norman chastisement The Anglo-Saxons developed a similar set of rules with the Germanic, Nordic peoples Local customs now influenced most judicial matters, the church playing an important role in the government - it influenced the trials After the Norman conquest, common law gradually developed Originally common law was viewed as procedural measures, similar to other early legal systems Since then, common law has gradually evolved into a more modern system By the end of the 19th century, English common law was primarily developed by judges rather than legislators

c) Characteristics of Common law

Common law adjudication is based on the stare decisis - the history of the trial forms the basis for writing future trials So common law relies on detailed records

of similar situations or statutes that have occurred because there are no written rules that have been decided by the legislature

When judges present the precedents that apply to a case, this decision affects the criteria a jury uses to interpret a case Historically, common law traditions have led

to unfair isolation or disenfranchisement of certain groups Until social changes prompt the judiciary to overturn precedent, common laws, while outdated, will shape decisions in the future

These brought a uniformity to common law over a long period of time Avoid disagreements in judgments that cause bias

d) The difference between Common law and equity

Both common law and equity have their roots in the English legal tradition But they are rooted in two separate traditions Common law is established in legal courts and is presided over by judges On the other hand, equity comes from the Premier's Courts and is presided over by the prime minister and the monarch In the present, both forms are separated by the manner in which the adjudication is

conducted and the type of decision made Common law uses trial juries and arbitrators as judges The judge will decide the penalties Unlike common law, equity can only be heard by a judge who has experience in similar cases Explain the role of government in law making and how statutory and common law is applied in the justice courts

a) The role of government in law making.

The government plays an important role playing a very important role in the formulation of laws and policies The legislative process is divided into several different stages:

Stage one: The ruling party defines its goals, vision and direction

The ruling party's conference will set out the policies that need to be implemented

At the same time, the ruling party will decide on specific goals for each issue These decisions will be discussed and debated to bring about correctness Stage two: The Executive Branch makes policy on an issue

This phase takes place at the national level It is now the responsibility of the ruling party to attempt to transform its policies to serve the line according to the procedures provided for by the Constitution

Stage three: Finalize the policy

This phase is the Department's final policy selection and review phase These policies have been debated and modified to be the most correct Ultimately, these policies will be published as a White Paper It will be passed by Parliament and related bodies

Stage Four: Passing the Law

At this time, the whole policy set by the party will be passed through many layers

of opinions to be exported into law The Minister will take the role of deciding what policy is necessary and achieving the initial goal will enact legislation This Law in the period before it is presented in Parliament will be called a Draft Law And when it is tabulated in Parliament will be called the Bill Finally, the Bill will

be voted on by the National Assembly

Stage five: Law and policy implementation

Laws that have been published after being approved by the National Assembly will be implemented in departments at all levels depending on the decision of the National Assembly If absolutely necessary, agencies at all levels can pass sub-laws that provide more detail on issues in the original law

b) How statutory and common law is applied in the justice courts

'Common law' means the basic law and rules of procedure that have been created

by judges through decisions in the cases they have heard Here I have grouped together two types of common law: substantive law and procedural law Let me explain the difference between them

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A rule is essentially a rule of our conduct, such as that we cannot commit murder

or that we would contract if we did and the like on an email exchange These

content rules are different from procedural rules, as the latter is simply how things should be done For example, regardless of the type of case in court, the rules

governing the admission of evidence into the court are the same

On the other hand, statute law refers to the law created by Parliament in the form

of legislation Although there has been a significant increase in statute law in the twentieth and twenty-first centuries, the courts still have an important role to play

in the creation and operation of law in general and in deciding how the law works

in particular This is despite the fact that there is no legislative or democratic

exercise for the courts to be the legislators

Common law applied: In the course of a trial, when a court decides and reports

on a particular case, that case will form part of the body of law and will be used in future adjudications where it is relevant regarding similar issues This helps keep the trial consistent over the years

Statutory law applied: Regulations are also recorded, or codified, in writing and

published In order for a court to be able to use the statute in adjudication, it must interpret it clearly, the law must be interpreted rigorously, and must be bound by its provisions

LO2 Illustrate the potential impact of the law on a business

The supervisor requests that your report has to include the different types of business

entities in England Compare the advantages and disadvantages of each of them

Sole Trader: Sole Trader business type is not considered a legal entity The business

owner therefore has unlimited liability for all debts and legal acts Sole trader is the most common form for a startup You can still hire employees but must follow employment laws

Private Limited Company: This form of organization allows to limit liability and protect shareholders However, this limits ownership and decision-making

Public Limited Company: A form of organization that sells shares to the public and has limited liability Shares can be freely traded by anyone

Limited Liability Partnership: A partnership between the two best business partners Each partner's liability is limited, but they are still responsible for their own conduct

Guarantee Company: Guarantee Company is a corporate structure designed to protect members from liability These types of companies are usually not-for-profit

Suite du document ci-dessous

Exercise 17 - practice 4

Answer for case 26 - Case 26 Star River Electronics

Exercise 17 - practice 10

HW2 answers - Homework Corporate Finance

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7

1

3

Limited Partners: Limited Partners is a partnership formed from at least two partners General partners are responsible for overseeing and operating the business, and limited partnerships are not involved in management However, their liability is unlimited

Sole Trader - Minimum setup and

administration requirements

- Have the right to decide the

business

- The profit of the business

belongs to the owner 100%

Help the owner to be motivated

to grow the business

- The business's information is

highly confidential

- The owner of the business has unlimited liability for all debts and legal acts

- Difficulty in developing and increasing the profit of the business

Private Limited

Company

- Limit the amount of loss to

only the amount you have

invested in the company

- Limited liability

- Risks that have little effect on

you

- Specialized company

- Many legal procedures are required to set up a company The company also has a more difficult structure to set up

- Individuals cannot have unlimited control over the company

Public Limited

Company

- Capital is raised through the

issuance of shares to the public,

helping to reduce the amount of

capital that investors need to

spend

- Risk should be shared equally

the risks will not bring harm to

individuals

- Public limited companies are

likely to be financed by

financial institutions or banks

- There are opportunities for

growth and expansion thanks to

good financial standing

- The legal and regulatory requirements for companies are stricter, more complex than protecting shareholders

- The company has a responsibility to increase transparency Companies need to audit revenues and expenditures

At the same time, detailed data must be disclosed publicly

- The ability of the original owners or directors to control the company was not strong They are governed by the shareholders

of the company

- Shares are freely transferable, making them vulnerable to takeovers by hostile forces

Limited

Liability

Partnership

- The investment members of

the company bear only a limited

liability for the risks of the

company

- Partnerships have flexibility in

managing the structure of the

company

- Tax purposes are treated

transparently Taxes are applied

separately to each income of the

investing members of the

company

- It costs more to set up the company

- Information of the owners must

be made public

- Complex administration process Requires an accountant

Guarantee

Company

- Members of the company are

not subject to financial risks

- The company has a high

reputation Make it easy to

promote the company's goals

- The company will still have the costs of setting up, managing and developing the company

- It is difficult to keep track of the members of the organization

LO3 Suggest appropriate legal solutions to business problems

What is the transfer of property in the goods?

Property in good means ownership of goods Property in good passes from the seller to the buyer, and the buyer has title to the goods and has the obligations associated with it The essence of the sale and purchase contract is to transfer the property in good from the seller to the buyer Therefore, the timing of the transfer of goods from the seller to the buyer is very important for the following reasons:

Ownership: At the time the property in good is transferred from the seller to the buyer,

the seller will no longer be the owner and has no obligations related to it At the same time, the buyer can also immediately exercise title rights to the goods

Risks subject to title: Ownership of an asset also carries with it the risks of the asset,

regardless of whether delivery has been completed or not Responsibility for

compensation for goods will be with the owner at the time the property is damaged

Action against a third party: Retaliation against a third party - the party having the effect

of causing damage or destruction of the goods - can only be made by the owner of the goods

Suit for Price: Unless otherwise agreed, the seller has every right to sue the buyer over

price

Insolvency: There will be some cases where the seller or the buyer becomes insolvent

The goods may be taken over by the official consignee or by the assignee However, there are certain conditions that are necessary for the transfer of assets

- Goods must be sure: Goods must be confirmed to be intact before they can be transferred from the seller to the buyer

- Some contract terms may stipulate when the property is transferred from the seller to the buyer Should abide by those terms

Explain the manufacturer’s liability in contract

Liability, a legal concept, or a manufacturer's doctrine that states that a manufacturer or seller is responsible or liable for damage resulting from a defective product marketed Manufacturer's liability is generally determined on any of three grounds: negligence, which is the failure to take reasonable care to prevent product defects arising from the manufacturing process or fail to give the consumer proper warning about the hazards of using the manufactured product, breach of warranty, result in failure to fulfill the terms of the claim or claim promises regarding the quality or performance of a particular product and strict liability, where the seller or manufacturer may be held liable for defective product even if the terms do not apply negligence or breach of warranty The aggressive